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UAE Traffic Fatalities Drop In 2011

The number of people killed in traffic accidents fell by 12.8 per cent last year, according to the interior ministry.

World’s Richest Nation: Qatar

The Gulf country with a GDP of $88,000 in 2010 qualifies as the world’s wealthiest nation, according to Forbes.

DFM Index Books 2011 Losses Of 17%

The Dubai Financial Market, the worst performing Gulf bourse last year, managed a small fourth quarter profit.

US Eyes UAE For Military Aircraft Sale

The UAE has reportedly expressed interest in buying the V-22 Osprey, a tilt-rotor aircraft from the US.

UAE To See $15bn Deals In 2012

Construction contracts worth $15 billion will be signed in the country this year according to Ventures Middle East.

Taqa Raises $215mn From Sukuk Sale

The ten-year Malaysian ringgit-denominated Islamic bond carried a 4.65 per cent profit rate.

New App To Control Kids

The mobile app released by Norton in the UAE, will allow parents to monitor their children’s smartphone activities.

Abu Dhabi Airport Welcomes More Passengers

More than 1.1 million passengers passed through the UAE capital’s international airport during January 2012.

Air Arabia 2011 Net Profit Falls 13%

The airline’s net profit for the fourth quarter of 2011 increased by seven per cent year-on-year to reach Dhs78.7 million.

Etisalat To Outsource Services

The telecoms operator will not let go of any UAE citizens as part of the move, which is part of a restructuring plan to cut costs.

Etisalat To Shut Down India JV

The decision follows the ruling of an Indian court to cancel 122 telecoms licences in the country amid a corruption scandal.

Dubai Raises $675mn For Tram Project

The proceeds from the dual-currency loan will be used to fund the first phase of the Al-Sufouh project.

Al Jaber CEO To Be Replaced: Sources

Abu Dhabi-based Al Jaber Group may hire a new CEO as part of a $1 billion restructuring plan, according to sources.

HAAD Issues Warning On Fake Products

The Health Authority of Abu Dhabi (HAAD) has found that many slimming products contain dangerous drugs.

DP World Eyeing $1bn Loan: Sources

The company is reportedly in talks with banks for a loan to repay its $3 billion deal that matures in October.

Abraaj Eyeing Turkey’s Calik

Dubai-based Abraaj Capital is planning to bid for Calik Holding’s media assets, according to sources.

DIFC Looks To Asia For Growth

The financial centre welcomed 56 new companies in 2011 and is eyeing companies from emerging markets.

CME, Oman Fund Raise DME Stake

The cash injection into the Dubai Mercantile Exchange (DME) has diluted the stake of Dubai Holding.

Etisalat May Restructure

The telecoms operator said it is discussing restructuring options as it struggles to stall dropping profits.

ENBD Plans Renminbi Bond Sale

The bank has mandated Emirates NBD Capital, HSBC and Standard Chartered Bank to arrange investor meetings.

Abraaj Acquires Aureos Capital

The transaction is set to create the world’s largest SME focused private equity group.

11.8mn Ride Dubai Metro’s Green Line

The recently inaugurated Green Line saw more than 11.8 million passengers during its first five months.

Gulf Funds Eyeing ONGC Stakes

Sovereign wealth funds from the UAE and Kuwait have reportedly agreed to buy stakes in India’s ONGC.

ENBD Q4 2011 Profit Fall

The bank reported that net profit for the full year increased by six per cent from 2010.

Dubai Will Support State Entities

The Dubai government will continue to help government-related bodies, says Sheikh Ahmed bin Saeed al-Maktoum.

Etihad Reports $14mn Net Profit

This is the first time that the UAE airline, started eight years ago, has recorded a profit.

Dhs2.1bn Surplus For Dubai Municipality

The civic body said that cost-cutting measures were implemented to achieve a budget surplus in 2011.

Damas Hires Nomura For Deal

Doha-based Mannai is planning to buy 58.8 percent of Damas in a deal estimated to be worth around $445 million.

Dolphin Raises $1bn From Bond Sale

Abu Dhabi’s Dolphin Energy will use the proceeds to meet its refinancing needs.

DGCX Volumes Rising

Dubai Gold and Commodities Exchange saw volumes increasing 95 per cent year-on -year in January.